On March 16, 2018, DeepBrain Chain announced a repurchase agreement to token holders. DeepBrain Chain will be purchasing no less than 40 million DBC tokens from various exchanges.
The repurchase agreement isn’t foreign to the realm of investing, or the fact that companies partake in the process. Buying back tokens previously distributed to public and private investors is a method of increasing the value of non-repurchased tokens.
Repurchases can occur when a company or entity believes their token is undervalued. The entity can purchase their tokens back when they’re at a reduced price, then sell them back when the market dictates the tokens are worth more in value.
DeepBrain Chain’s decision to reclaim no less than 4.4% of tokens currently available on the market follows their announcement of extending the lockup period of 350 million tokens by six months from the previous scheduled release of January 28th.
To be transparent about their process, DeepBrain Chain announced their public repurchase address and listed on their Twitter account as: ASE9w9DqzMzNhw6DxbwW1nbUky3k9G4BpZ. The public address can be verified on DeepBrain Chain’s Twitter announcement.
For more information about DeepBrain Chain, visit their website, Twitter, or Telegram.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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